What is the withdrawable balance shown in my account?
Your withdrawable balance indicates the amount of money that can be withdrawn from your trading account. This will include only 'settled' funds.
In India we follow a rolling settlement cycle, which means that delivery trades are settled as follows:
- Equity- 1 trading day after the transaction date (T+1).
- Derivatives- 1 trading day after the transaction date (T+1).
This implies that if you sell securities today or make intraday profits, you will not be able to withdraw these proceeds until they are settled.
Since trades are not immediately settled, your withdrawable balance (settled amount) on MyGeojit and fund balance (unsettled amount) on SELFIE / TraderX will vary.
To check your withdrawable balance on MyGeojit:
Step 1. Log in to MyGeojit and got to Account Summary
Step 2. Select Balance Inquiry- The figure shown under Ledger is your withdrawable balance, subject to not having used these funds during the day.